I was surprised that several longstanding community residents were not aware that the state, town and villages offer tax credit programs for homeowners, and additional benefits for older Americans (over 65) and veterans.
For starters, there’s a basic New York State STAR exemption for all homeowners, regardless of age, as long as the home is their primary residence and they meet the income thresholds. In addition, any household where one of the homeowners has turned 65 should check the New York State STAR guidelines to see if they qualify for an enhanced STAR credit, which affords an even greater tax credit. If you have never signed up, go to tax.ny.gov/star/
Just remember that certain tax credits do not automatically trickle down to the villages, such as Southampton, Sag Harbor or Quogue. You’ll need to fill out and submit an additional application for the senior or veteran tax credits with the village, and some of the criteria may be different from the town or state.
In Southampton Village, for example, a senior citizen homeowner may be eligible for up to a 50 percent tax credit, but only if all homeowners have reached the age of 65 and their combined income does not exceed $37,400, and it must be their primary residence. Homeowners should request an application from Village Hall before the end of this year to qualify for 2022. The sooner, the better, however.
There is also a veteran-war or veteran-combat tax reduction benefit for eligible homeowners, regardless of age. (Thank you for your service!)
Allan is a former Southampton Village Board member — Ed.
One fine body…